Entrepreneurship

1. Legal and Regulatory Aspects
   1. Business Structure
      1. Sole Proprietorship
         1. Definition and characteristics
         2. Advantages
            1. Simple to establish
            2. Full control of decisions
            3. Minimal regulatory paperwork
         3. Disadvantages
            1. Unlimited personal liability
            2. Difficulty in raising capital
            3. Longevity linked to owner’s ability
         4. Registration requirements
      2. Partnership
         1. Types of partnerships
            1. General partnership
            2. Limited partnership
            3. Limited liability partnership
         2. Advantages
            1. Shared responsibility
            2. Potential for increased capital
            3. Complementary skills and expertise
         3. Disadvantages
            1. Joint liability
            2. Potential for conflicts
            3. Shared profits
         4. Partnership agreements
            1. Purpose and components
            2. Allocation of profits and losses
            3. Dispute resolution mechanisms
      3. Corporation
         1. Types of corporations
            1. C Corporation
            2. S Corporation
            3. Nonprofit Corporation
         2. Advantages
            1. Limited liability for owners
            2. Transferable ownership
            3. Corporate tax benefits
         3. Disadvantages
            1. Complex and costly to establish
            2. Double taxation in certain types
            3. Extensive record-keeping requirements
         4. Governance structure
            1. Board of directors
            2. Corporate officers
      4. Limited Liability Company (LLC)
         1. Characteristics and legal recognition
         2. Advantages
            1. Limited liability
            2. Flexibility in management
            3. Tax options like partnership
         3. Disadvantages
            1. Variability by state
            2. Self-employment taxes
            3. Possible confusion with corporation
         4. Operating agreements
   2. Intellectual Property
      1. Patents
         1. Types of patents
            1. Utility patents
            2. Design patents
            3. Plant patents
         2. Process of obtaining a patent
         3. Patent enforcement and infringement
      2. Trademarks
         1. Definition and types
            1. Service marks
            2. Certification marks
         2. Process of registering a trademark
         3. Trademark protection and enforcement
      3. Copyrights
         1. Works eligible for copyright
         2. Difference between copyright and other IP
         3. Duration and renewal of copyrights
      4. Trade Secrets
         1. Definition and examples
         2. Protection measures
            1. Non-disclosure agreements
            2. Employee education
         3. Legal proceedings against misappropriation
   3. Regulatory Compliance
      1. Licensing and Permits
         1. Types of business licenses
            1. General business licenses
            2. Industry-specific permits
         2. Process and duration
         3. Consequences of non-compliance
      2. Employment Laws
         1. Minimum wage and overtime laws
         2. Anti-discrimination regulations
         3. Worker health and safety standards
         4. Employee rights and employer responsibilities
      3. Taxation
         1. Federal tax obligations
            1. Income tax
            2. Employment tax
         2. State and local tax requirements
            1. Sales tax
            2. Property tax
         3. Tax compliance and reporting
   4. Environmental Regulations
      1. Environmental protection laws
         1. Impact assessment requirements
         2. Waste management standards
      2. Industry-specific environmental standards
      3. Penalties for non-compliance
   5. Consumer Protection
      1. Truth in advertising
      2. Product safety regulations
      3. Consumer rights and dispute resolution
   6. International Regulations
      1. Import/export regulations
      2. International trade agreements
      3. Compliance with foreign regulatory standards